Signal Sets Company Contracts to Deliver One Hundred 52-Inch Plasma

question 25

Essay

Signal Sets Company contracts to deliver one hundred 52-inch plasma high-definition television sets to a new retail customer,Tuner TV Store,on May 1,with payment to be made on delivery. Signal tenders delivery in its own truck. Tuner's manager notices that some of the cartons have scrape marks. Tuner's owner phones Signal's office and asks whether the sets might have been damaged as they were being loaded. Signal assures Tuner that the sets are in perfect condition. Tuner tenders Signal a check,which Signal refuses,claiming that the first delivery to new customers is always for cash. Tuner promises to pay the cash within two days. Signal leaves the sets with Tuner,which stores them in its warehouse pending its "Grand Opening Sale" on May 15. Two days later,Tuner's stocker opens some of the cartons and discovers that a number of the sets are damaged beyond ordinary repair. Signal claims Tuner has accepted the sets and is in breach by not paying on delivery. Will Signal succeed on these claims? Explain.

Recognize how changes in monetary policy affect the economy in the short and long run.

Understand how fiscal policy influences the economy primarily in the short run.

Identify the effects of interest rate changes on investment and consumption.

Understand the multiplier effect and its impact on aggregate demand.

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Definitions:

Scientific Management

A management theory developed by F.W. Taylor aiming to improve economic efficiency and labor productivity through systematic study and analysis of work processes.

Historical Development

The process of change over time within human societies, cultures, or civilizations, often studied to understand present conditions.

Sociologist

An expert or scholar in sociology, which is the study of society, patterns of social relationships, social interaction, and culture.

Economist

A professional or scholar who studies, teaches, or practices economics, focusing on the distribution, production, and consumption of goods and services.